LED Lighting Market Analysis Report

- The booming global hospitality industry is driving demand for advanced lighting solutions that will enhance the aesthetics of hotels and resorts and save on energy consumption. This factor contributes to the growth of the market;

- The LED lighting segment dominated the global market with a market share of over 55.7% in 2021 and is expected to maintain its dominance due to growing demand from the commercial and industrial sectors;

- Asia Pacific will account for a major revenue share of 42.8% in the global market in 2021. This can be attributed to the rapid increase in infrastructure construction projects in developing countries, as well as increasing consumer awareness of the benefits of LEDs such as energy saving, bright lights and low cost.